ESTIMATING WELFARE MEASURES USING TRAVEL COST METHOD WITH TRUNCATED AND CENSORED DATA
(Universidad de Talca, Chile/ICTP)
FELIPE VÁSQUEZ (Universidad de Concepción, Chile/Ph.D. Student, UC Berkeley, USA)
SERGIO ORREGO (Universidad Nacional de Medellín, Colombia/Ph.D. Student Oregon State University, USA)
The paper to be presented examines the estimation of welfare measures for a recreation site using a travel cost model with different functional forms for censored and truncated data. The estimations include lineal and semi-log functional forms as well as discrete and continuos probability distribution functions. The results show that consumer surplus is highly sensitive to functional forms, probability distribution function, and type of sampling chosen.
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